Token burns have proved time and time again an excellent way to boost a token’s valuation. Following fundamental laws of economics, a decrease in supply naturally equates to an increase in price.
The announcement of an enormous token burn made by Uniglo.io’s developers has excited early investors, and the gains made will dwarf those of Algorand, FTX, and Chainlink.
Uniglo has provided investors with a capital haven. This DeFi protocol enables investors to capture the purchasing power of their wealth and allows it to grow over extended periods. A store of value remains one of the critical features of money, and fiat has failed miserably. Despite the simpleness of the task, storing value over extended periods remains highly complicated due to the constant change in the money supply and inflation.
Uniglo leverages asset ownership and scarcity to provide this store of value. It exposes investors to a unique blend of digital assets and features deflationary tokenomics as a further guarantee for a constantly appreciating valuation. The upcoming burn will send GLO’s price soaring, and Business2Community has listed Uniglo as a project ready to explode in 2022.
Silvio Micali, a thought leader in the blockchain space, launched Algorand in April 2019. Algorand is widely credited as the first blockchain to solve the scalability trilemma. Algorand introduces decentralization, scalability, and security to the crypto ecosystem.
It raised more than one hundred and twenty million in its ICO (Initial Coin Offering). But from a price perspective, Algorand has been a total flop, with ALGO consistently trading below its ICO price.
FTX is a centralized exchange specializing in derivatives. It brands itself as designed by traders for traders. However, the DeFi community has pushed back firmly against FTX following Sam Bankman-Fried’s- the CEO & founder of FTX- proposed regulations for DeFi.
The community sees the regulation proposals as Fried attempting to line his pockets by reducing competition and forcing decentralized exchanges to submit to a centralized regulatory framework. The effect on FTT’s price remains to be seen.
Chainlink is a decentralized oracle network. The project solves a core weakness of blockchain technology: its natural isolation. Chainlink feeds external data into smart contracts, and this blockchain abstraction layer plays a crucial role in integrating blockchain with the real world. Price feeds remain the core application, but Chainlink’s potential stretches far beyond this.
Early investors have welcomed Uniglo’s token burn announcement, and investors still have the chance to front-run this opportunity. A senior analyst cited Uniglo’s upside potential as: ‘frankly quite terrifying,’ and it could well be one of 2022’s best launches.
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